Toyota Motor Corporation this week celebrated the launch of its newly renamed Toyota Battery Company Ltd subsidiary, previously known as Primearth EV Energy Company Ltd. Toyota took full control of the company earlier this year by acquiring its partner Panasonic Holding’s outstanding 19.5% stake.

The launch event was held at the Kosai Battery Park, near Toyota’s Arai Plant, and was attended by around 100 Toyota group executives and guests including Toyota chairman Akio Toyoda, Toyota Battery president Masamichi Okada and Kosai City Mayor Takeshi Kageyama.

Speaking at the event, Mr Okada confirmed his company “will contribute to Toyota’s multi-pathway strategy with batteries for HEVs (hybrid electric vehicles), PHEVs (plug-in hybrid electric vehicles) and BEVs (battery electric vehicles), as well as secondary batteries for fuel cell vehicles.

"In addition, we want to explore all possible ways of supporting Toyota’s commitment to developing hydrogen-engine vehicles, including the potential for batteries to extend the cruising range or reduce fuel tank size.”